US Financial Markets Experience Sell-Off Amid Bond Yield Concerns

• The US bond market flashed warning signs as yields hit a nearly two-decade high, prompting the Treasury Department to intervene with a bond buyback program.
• Despite temporary relief, yields rebounded, indicating investor skepticism towards Treasury Secretary Scott Bessent's reassurances of a strong economy and temporary inflation drivers.
• The situation impacts broader interest rates, affecting mortgages, car loans, and business borrowing, with mortgage rates nearing 6.7%.

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